CVX - Chevron Corporation

NYSE - NYSE Delayed Price. Currency in USD
91.70
+0.83 (+0.91%)
At close: 4:00PM EDT

91.67 -0.03 (-0.03%)
After hours: 7:59PM EDT

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Chart Events
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close90.87
Open90.19
Bid91.50 x 800
Ask91.68 x 1000
Day's Range89.26 - 91.82
52 Week Range51.60 - 127.00
Volume16,949,615
Avg. Volume15,626,295
Market Cap171.202B
Beta (5Y Monthly)1.33
PE Ratio (TTM)44.62
EPS (TTM)2.06
Earnings DateJul 31, 2020 - Aug 04, 2020
Forward Dividend & Yield5.16 (5.68%)
Ex-Dividend DateMay 18, 2020
1y Target Est90.71
  • Oil Prices Slide As U.S.-China Tensions Return
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    Oil Prices Slide As U.S.-China Tensions Return

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  • Financial Times

    Details on EU’s green Covid-19 recovery; Activists make point at Chevron AGM; Sandra Lee on fighting hunger; Tax avoidance

    The European Commission on Wednesday unveiled a historic plan to invest billions of euros into a greener future as part of its recovery from the coronavirus-induced economic crisis. In a budget proposal, the commission is seeking €750bn for a recovery programme that would dole out grants and loans to member states that prioritise spending for green projects.

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  • Trump's China Fight Shows Covid-19 Hasn't Changed Oil's World
    Bloomberg

    Trump's China Fight Shows Covid-19 Hasn't Changed Oil's World

    (Bloomberg Opinion) -- The big question haunting oil is how much Covid-19 has changed the world. Will more people give up on commuting or, conversely, drive into work? Has air travel peaked for good? Have Londoners and Angelenos  been spoiled by a few haze-free months?Judging from the past week, though, maybe oil’s real problem is the world hasn’t changed enough.Last year, the big challenge confronting oil demand was the trade war. This eased somewhat in January with the “phase one” agreement committing China to buy more U.S. exports, including extra freedom molecules of energy. Even then, however, most of President Donald Trump’s tariffs were left in place, and sensitive issues such as Chinese subsidies were deferred. It was more ceasefire than treaty.The guns are silent no longer. China’s decision to effectively lop off the second half of Hong Kong’s “one country, two systems” rubric was met with Secretary of State Michael Pompeo’s announcement the U.S. would take Beijing at its word. No longer recognized as autonomous, Hong Kong’s trade could be hit with tariffs, and the U.S. could even impose sanctions.More importantly, this is a tangible breach after months of escalating tension, with tit-for-tat expulsions of journalists and Trump even floating the idea of China being “knowingly responsible” in the spread of Covid-19. The phase one agreement, meanwhile, was off to a slow start, with China taking just $14.4 billion of goods listed under the deal in the first quarter, versus the $34 billion implied by the targets, according to Bloomberg Economics.With November looming, and his presidency tainted by America’s Covid-19 death toll and joblessness, Trump may well have decided China makes a better pandemic scapegoat than economic buttress. But antipathy to Beijing extends beyond the president. In the same week Pompeo opened the door to sanctions over Hong Kong, the Democratic-controlled House voted almost unanimously to  authorize sanctions against China for human-rights abuses against the country’s Uighur minority. For reasons extending back much further than the existence of the Chinese Communist Party, such prods into the country’s internal affairs will touch a nerve, potentially escalating a trade dispute into broader great-power rivalry.The unraveling of free trade has been apparent since at least the 2016 presidential campaign. As I wrote here a few years ago, this is particularly pernicious for an oil market built on the back of globalization and U.S. security guarantees.Far from provoking mass kumbaya in the face of a common enemy, Covid-19 elicited a more Darwinian response, even between supposedly united states. Besides attempts to tattoo a flag on the virus, its arrival threw a spotlight on countries’ vulnerability to shortages of imported medical supplies, providing fodder for economic nationalists seeking re-shoring and a general shortening of supply chains. Fragmentation means friction, which tends to suppress growth over time. In projections published last year, BP Plc ran a “less globalization” case that took a hefty chunk out of forecast oil and natural gas demand; in the latter case, even more than for a scenario of quicker de-carbonization.The world also hasn’t changed as much as it might seem when it comes to oil supply, either. The coronavirus world tour coincided with the breakdown of Saudi-Russia cooperation on production cuts — and then facilitated a rapid rapprochement as oil prices headed toward negative territory. The swinging supply cuts forced on OPEC+ members, along with signs of congestion resuming in Chinese cities especially, helped drag oil back into the $30s this month.But the underlying dynamics haven’t changed altogether. Russia has implemented big cuts but is reportedly keen to start unwinding these sooner rather than later. As when it broke with OPEC+ in March, Moscow is done ceding market share to U.S. frackers. The latter have cut production very quickly, but their instinct to get rigs and crews back to work remains strong. Holding them in check are low prices, particularly for longer-dated futures, weighed down by the glut of physical oil and spare OPEC+ capacity that’s built up over the past couple of months. Shale does at last seem poised for rationalization. However, supply’s defining characteristics of the past four years — excess inventory and OPEC+ versus shale competition — are for now accentuated rather than altered.Similarly, the International Energy Agency’s latest investment report, which dropped this week, was consumed with Covid-19 yet trod familiar ground. This showed the theme of excess supply extending into refining, where too much capacity was opening even before the pandemic showed up.Above all, that other force of nature confronting energy markets, climate change, pervaded the discussion. If anything, the pandemic is a reminder of why we should be tackling that threat head-on. Covid-19 has both spotlighted the risk and, if stimulus efforts are shaped properly, may catalyze a response. With uncanny timing, at Chevron Corp.’s (virtual) shareholder meeting this week, the only measure where a majority of investors voted against the board concerned aligning the oil major’s lobbying with efforts to address climate change.There is still so much we don’t know about the lasting impacts of Covid-19 or, indeed, the workings of the virus itself. One thing that seems clear, however, is its tendency to magnify pre-existing conditions. For oil, those were excess supply, fraying globalization and a looming climate emergency.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Forget Oil Prices, It's Time to Buy ExxonMobil and Chevron
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    Forget Oil Prices, It's Time to Buy ExxonMobil and Chevron

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  • Bloomberg

    Chevron’s Investors Defy Board in Demanding Climate Disclosures

    (Bloomberg) -- In a rare move against Chevron Corp.’s board, shareholders of the U.S. oil giant are calling on the company to disclose lobbying efforts and ensure that they support international goals to combat global warming.The proposal was the only one where a majority of Chevron’s investors diverged from the board’s recommendations in an annual meeting held virtually Wednesday. The matter was brought by BNP Paribas Asset Management, which has stepped up efforts in recent years to help further the international Paris Agreement on climate change. BlackRock Inc., Chevron’s second-biggest shareholder, also backed the measure.The vote comes as the world’s oil giants are already reeling over a pandemic-fueled market rout, while also facing increasing pressure to curb greenhouse-gas emissions and contribute more to the fight against climate change.U.S. oil majors Chevron and Exxon Mobil Corp. have noticeably lagged behind their European counterparts in making carbon-cutting pledges. BP Plc and Royal Dutch Shell Plc have both committed to becoming carbon neutral by 2050 -- a move that Chevron’s chief recently called “aspirational” and Exxon’s described as nothing more than a “beauty competition.”Though America’s two biggest oil companies say they support the goals of the Paris accord, some investors want reassurance that they’re not funding trade organizations that promote policies to the contrary.“Climate issues are so central to the work of these organizations that it’s hard not to be concerned that there’s the potential for misalignment,” said Jonathan Bailey, head of ESG investing at Neuberger Berman, which voted for the proposal. “This will also help accelerate clearer activities from the organizations they support.”Chevron’s board had recommended investors vote against the proposal, saying that it already made transparent disclosures of its lobbying activities. The defeat -- with a preliminary count showing 53% of investors voting in favor of the proposal -- means Chevron will be required for the first time to issue a report detailing how those activities align or not with climate goals.The result “is a real rebuke to Chevron and a wake-up call to the board,” said Kathy Mulvey, a campaign director at the Union of Concerned Scientists. “Companies must back up their statements with consistent action.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Here is How Hedge Funds Traded Chevron Corporation (CVX) During The Crash
    Insider Monkey

    Here is How Hedge Funds Traded Chevron Corporation (CVX) During The Crash

    In this article we will take a look at whether hedge funds think Chevron Corporation (NYSE:CVX) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from […]

  • Exclusive: Chevron to cut up to 15% of staff amid restructuring
    Reuters

    Exclusive: Chevron to cut up to 15% of staff amid restructuring

    The oil producer previously disclosed a 30% reduction in its 2020 spending and some voluntary job cuts amid this year's sharp drop in oil prices and lower demand for oil and gas due to the COVID-19 pandemic. Chevron has been widely seen as the standard bearer of financial discipline in the oil industry and was among the first to make significant budget cuts as oil demand plummeted. Last year, it abandoned a takeover bid for Anadarko Petroleum Corp rather than get into a bidding war with Occidental Petroleum Corp <OXY.N>.

  • Reuters

    Chevron shareholders approve calls for more transparency on climate lobbying

    Chevron Corp shareholders on Wednesday voted to approve a proposal demanding that the company issue a report on its climate change related lobbying activities, a major win for activists against big oil. Other shareholder proposals were defeated, including one calling on the U.S. oil producer to split its chairman and chief executive roles that received only around 27% votes in favor. Rival Exxon Mobil Corp's shareholders on Wednesday also rejected calls to split the chair and CEO roles along with all other climate related proposals.

  • Business Wire

    Chevron Discusses Business Operations at Annual Stockholders Meeting

    Chevron Corporation (NYSE: CVX) today provided an overview of the company’s work to respond to the COVID-19 pandemic at its 2020 annual meeting of stockholders. This year’s meeting was virtual in place of an in-person event due to safety concerns related to the pandemic.

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  • Is The Market Rewarding Chevron Corporation (NYSE:CVX) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?
    Simply Wall St.

    Is The Market Rewarding Chevron Corporation (NYSE:CVX) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?

    With its stock down 7.9% over the past three months, it is easy to disregard Chevron (NYSE:CVX). It is possible that...

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